UAE and Syria central banks sign preliminary co-operation agreement
The central banks of the UAE and Syria signed a preliminary agreement to co-operate on payment systems, monetary policy, financial technology and regulation. Outlets place it within Syria's efforts to rebuild its banking sector and attract investment.
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The story, neutrally told
Mixed · 2The central banks of the UAE and Syria agreed to deepen bilateral co-operation, with the Central Bank of the UAE announcing the preliminary agreement in a statement on Friday 2 October. The NationalN “the Central Bank of the UAE</a> said in a statement on Friday” Read at The National ↗ Arab NewsRC “The central banks of the UAE and Syria signed a memorandum of understanding on financial and technical cooperation” Read at Arab News ↗ Mixed · 2It was signed by CBUAE governor Khaled Balama and Central Bank of Syria governor Mohammad Raslan; Arab News, citing the Emirates News Agency (WAM), describes it as a memorandum of understanding. The NationalN “The agreement was signed by CBUAE governor Khaled Balama and Central Bank of Syria governor Mohammad Raslan.” Read at The National ↗ Arab NewsRC “according to the Emirates News Agency, or WAM” Read at Arab News ↗ Mixed · 2The framework covers building technical expertise in payment systems, monetary policy, cash management and financial technology, as well as climate risk management, sustainable finance, financial inclusion, financial literacy, credit information systems, and reporting and risk management frameworks. The NationalN “It will also cover climate risk management, sustainable finance, financial inclusion, financial literacy and awareness, credit information systems” Read at The National ↗ Arab NewsRC “The MoU covers payment systems, monetary policy, cash management and innovative financial technologies” Read at Arab News ↗
Right · 1Arab News adds that the two banks will exchange expertise on licensing of financial activities and institutions, regulatory enforcement, compliance and consumer protection. Arab NewsRC “The central banks will exchange expertise on licensing financial activities and institutions, regulatory enforcement, compliance and consumer protection.” Read at Arab News ↗ Mixed · 2Balama said the deal reflects a shared interest in advancing co-operation in financial and regulatory areas to support the resilience of the financial system, improve financial infrastructure and keep pace with financial technology, and hoped it would create broader opportunities for financial institutions in both countries. The NationalN “We hope that this co-operation will create broader opportunities for financial institutions in both countries” Read at The National ↗ Arab NewsRC “He said the cooperation could create broader opportunities for financial institutions in both countries” Read at Arab News ↗ Mixed · 2Raslan called it an important step and a foundation for practical and sustainable co-operation that could improve banking services, support monetary and banking stability and open broader prospects for banking partnerships. The NationalN “serving as a foundation for practical and sustainable avenues of co-operation between the two central banks” Read at The National ↗ Arab NewsRC “He said the agreement would provide a foundation for practical cooperation” Read at Arab News ↗
Centre · 1The National places the deal in the context of Syria's economic opening after the toppling of Bashar Al Assad and the removal of western sanctions last year, with Gulf states moving to invest, and notes the CBUAE separately renewed a Dh5 billion ($1.36 billion) currency swap with Egypt earlier that week. The NationalN “Syria's economy is opening up following the toppling of Bashar Al Assad's regime and the removal of western sanctions last year.”“Earlier this week, the CBUAE agreed to renew its Dh5 billion ($1.36 billion) currency swap agreement with Egypt.” Read at The National ↗ Right · 1Arab News focuses on Syria's banking sector: Raslan said in September that foreign capital for new banks was expected to exceed $1 billion, seven delegations had shown interest in establishing banks, and the central bank is working to restore correspondent banking relationships; it also recalls the first Syrian-Emirati Investment Forum in Damascus in May. Arab NewsRC “In September, Raslan said foreign capital for establishing new banks was expected to exceed $1 billion”“seven delegations expressing interest in establishing banks in Syria, according to the central bank”“In May, the first Syrian-Emirati Investment Forum in Damascus” Read at Arab News ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre1 outlet
- Framing
- Short business report on a preliminary agreement, set within Syria's rebounding economy and Gulf investment in its recovery.
- Emphasis
- Regional investment, housing plans, the Egypt currency swap and the political backdrop of Assad's fall and lifted sanctions.
- Leaves out or plays down
- Does not mention the licensing, enforcement and consumer protection areas or Syria's bank-licensing interest.
- Charged language
- “rebounding economy”
- For example
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“as Syria continues to forge ties with its neighbours to boost” — The National
“Gulf states and other regional countries are moving quickly to invest in Syria’s future” — The National
Right1 outlet
- Framing
- Reports a signed MoU, sourced to WAM, as a step in Syria's banking-sector development and integration with regional finance.
- Emphasis
- Syria's bank-licensing interest, foreign capital above $1 billion, correspondent banking and the Damascus investment forum.
- Leaves out or plays down
- Does not mention Assad's fall, sanctions removal or the Egypt swap.
What every side reports
- The UAE and Syrian central banks agreed a co-operation framework signed by governors Khaled Balama and Mohammad Raslan.
- It covers payment systems, monetary policy, cash management, fintech, climate risk, sustainable finance, financial inclusion and credit information systems.
Central Bank of the UAE organisation
Governor Khaled Balama says the deal reflects shared interest in financial and regulatory co-operation and could widen opportunities for financial institutions.
“reflects our shared interest to advancing co-operation in financial and regulatory areas” — The National
Central Bank of Syria organisation
Governor Mohammad Raslan calls it an important step and a foundation for practical co-operation and banking partnerships.
“opening broader prospects for banking partnerships” — The National
“We attach particular importance to the opportunities provided by the Memorandum” — Arab News
Left0 articles
No coverage yet.
Centre1 article
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UAE and Syria central banks agree to deepen co-operation
Neutral Reports the agreement as part of Syria's economic reopening and Gulf engagement.
Right1 article
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UAE, Syria central banks sign MoU to deepen financial cooperation
Neutral Reports the MoU with detail on scope and Syria's banking-sector ambitions.
- 2 Oct 18:30 First The NationalN UAE and Syria central banks agree to deepen co-operation
- 4 Oct 12:30 +42h Arab NewsRC UAE, Syria central banks sign MoU to deepen financial cooperation
Times are when each article was published, or when we first saw it if the outlet gave no time.